Wow what a crash we experienced yesterday on May 19th, 2021. BTC seems to be holding the 200 Day MA for now (even though we breached it badly during the major crash). However, the 21 Weekly MA is the line in the sand that will determine the directions of this market in the next 3 to 6 months. As we have seen in the past, whenever BTC went below the 21 Weekly EMA, it was the playground for the bears for an extended period of time. I will remain bearish in the short term until BTC can reclaim this level and have weekly closes above the 21 W EMA. We have a long way to go to reclaim this important level but it is BTC so anything can happen. Good luck out there my fellow bitcoiners.
NOTE that in 2013 bull run the price of BTC dipped below the 21 weekly EMA for a few months then came back up. It is still possible for this bull market to continue if we experience something like that. Only time will tell.
NOTE that in 2013 bull run the price of BTC dipped below the 21 weekly EMA for a few months then came back up. It is still possible for this bull market to continue if we experience something like that. Only time will tell.